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Massive Oil Deposit Could Increase US reserves by 10x

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posted on Feb, 17 2009 @ 06:06 PM
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As you all know I dont post often-------has alot to do with the two different time zones and traveling back and forth from Europe to the East Coast of the USA often. Anyhow I did'nt see anything new on this since 2006.

Subject: USA Oil fields


The U. S. Geological Service issued a report in April ('08) that only scientists and oil men knew was coming, but man was it big.

It was a revised report (hadn't been updated since '95) on how much oil was in this area of the western 2/3 of North Dakota; western South Dakota; and extreme eastern Montana ..... check THIS out:

The Bakken is the largest domestic oil discovery since Alaska 's Prudhoe Bay, and has the potential to eliminate all American dependence on foreign oil.

The Energy Information Administration (EIA) estimates it at 503 billion barrels.. Even if just 10% of the oil is
recoverable... at $107 a barrel, we're looking at a resource base worth more than $5.3 trillion.

'When I first briefed legislators on this, you could practically see their jaws hit the floor. They had no idea.' says Terry Johnson, the Montana Legislature's financial analyst.

'This sizable find is now the highest-producing onshore oil field found in the past 56 years.' reports, The Pittsburgh Post Gazette.

It's a formation known as the Williston Basin, but is more commonly referred to as the 'Bakken.' And it stretches from Northern Montana, through North Dakota and into Canada. For years, U. S. oil exploration has been considered a dead end.

Even the 'Big Oil' companies gave up searching for major oil wells decades ago.

However, a recent technological breakthrough has opened up the Bakken's massive reserves.... and we now have access of up to 500 billion barrels. And because this is light, sweet oil, those billions of barrels will cost Americans just $16 PER BARREL!

That's enough crude to fully fuel the American economy for 41 years straight.

2. And if THAT didn't throw you on the floor, then this next one should - because it's from TWO YEARS AGO!

U. S. Oil Discovery- Largest Reserve in the World! Stansberry Report Online - 4/20/2006


Hidden 1,000 feet beneath the surface of the Rocky Mountains lies the largest untapped oil reserve in the world. It is more than 2 TRILLION barrels.

On August 8, 2005 President Bush mandated its extraction. In three and a half years of high oil prices none has been extracted.

With this motherload of oil why are we still fighting over off-shore drilling?

They reported this stunning news: We have more oil inside our borders, than all the other proven reserves on earth. Here are the official estimates:

- 8-times as much oil as Saudi Arabia
- 18-times as much oil as Iraq
- 21-times as much oil as Kuwait
- 22-times as much oil as Iran
- 500-times as much oil as Yemen
- and it's all right here in the Western United States .

HOW can this BE? HOW can we NOT BE extracting this?

Because the environmentalists and others have blocked all efforts to help America become independent of foreign oil!

Again, we are letting a small group of people dictate our lives and our economy....WHY?

James Bartis, lead researcher with the study says we've got more oil in this very compact area than the entire Middle East -more than 2 TRILLION barrels untapped.

That's more than all the proven oil reserves of crude oil in the world today, reports The Denver Post.

Don't think 'OPEC' will drop its price - even with this find?

Think again! It's all about the competitive marketplace, - it has to.

Think OPEC just might be funding the environmentalists

www.usgs.gov...

www.nextenergynews.com...

seattletimes.nwsource.com...





posted on Feb, 17 2009 @ 06:15 PM
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While that is terrific news, it wont help matters any due to the fact that there are simply not enough refineries to meet added supply, nor the exponentially increasing demand.

The solution is not more oil, the solution is a new energy resource. One that is more modern than 1800's technology.



Cheers!!!!



posted on Feb, 17 2009 @ 06:51 PM
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let's think about this strategically..... Why should we use up all of our oil when we can simply buy it from the rest of the world that is willing to sell it to us. When they run out we will still have plenty. Ever heard the term short term suffering for long term gains. Perhaps that is whats going on here.

Just another perspective. we constantly think with our pocket books but maybe we need to look at the bigger picture. BTW I agree with alternative energy sources and I would like to keep gas cheap but my grand children and great grandchildren have the same rights to our natural resources as I do.



posted on Feb, 17 2009 @ 07:02 PM
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Yes Lindsey Williams spoke of this in july and on related issues for years. here are a few links.


Alex welcomes back to the show Lindsey Williams, author of The Energy Non-Crisis. Williams correctly predicted the fall of oil prices, an effort by the global elite to devalue the dollar and wreck oil producing nations.

www.youtube.com...


Dubai Real Estate Crash !!!!!!!!!!!!!!!!!!!!!!!!!!!

www.youtube.com...


Lindsey Williams, who has been an ordained Baptist minister for 28 years, went to Alaska in 1971 as a missionary. The Transalaska oil pipeline began its construction phase in 1974, and because of Mr. Williams' love for his country and concern for the spiritual welfare of the "pipeliners," he volunteered to serve as Chaplain on the pipeline, with the subsequent full support of the Alyeska Pipeline Company. Because of the executive status accorded to him as Chaplain, he was given access to information documented in his eye opening book, The Energy Non-Crisis.
After numerous public speaking engagements in the western states, certain government officials and concerned individuals urged Mr. Williams to put into print what he saw and heard, stating that they felt this information was vital to national security. Mr. Williams firmly believes that whoever controls energy controls the economy. Thus, The Energy Non-Crisis.
www.youtube.com...

Lindsey Williams on The Alex Jones Show sharing information from a private, powerful, and credible source about the coming economic crash.
www.youtube.com...


Lindsey Williams reveals the mental plot of the International financiers. An enlightening comparison of a Republic vs. a Democracy...Freedom vs. slavery
America is not being run by Elected Officials! Who Controls America? Has our Republic been Seduced? A Republic, Democracy, Autocracy, or Bureaucracy
www.youtube.com...













[edit on 17-2-2009 by Reevster]



posted on Feb, 17 2009 @ 07:02 PM
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reply to post by Bazarocka

There is another large oil-shale area in the eastern mid-west that won't be produced either, even though the technology has improved to the point that it would be pretty profitable for them to do it.

Why??? Because the PTB don't want cheap oil, for two reasons, first, because if oil was cheaper, we would be able to keep more of the money we earn in our own pockets, and people with more options and money aren't as controllable as people that are desperate.

The second reason is because that way we have more control over the oil producing countries to an extent. If we could supply more of our own energy, the oil producing countries wouldn't have us over a barrel, so to speak. But it can come back to bite them in the butt.....

An example is the rise of oil prices last summer, ending with prices over $4.00 per gallon for gas. The oil producing countries are just like anyone else.....most people spend up to the limit of their income.

They raise the price of oil, the gas producers raise the price of gas, eventually people start cutting back, the demand drops, but the oil producing countries have gotten used to an income from high price per barrel.....what happens when your income drops and you can't afford your bills anymore......eventually you may be forced into bankruptcy, that is what is happening to the oil producing countries right now.

My husband and I are always commenting about the fact that the price of oil has dropped to about 45.00/barrel, but the price of gas is creeping up again, it's close to $2.00/gallon again around here. Of course, our government lets the price of oil and gas be manipulated also, through one of those stock market futures options things also.

Anyway, here are some youtubes from a guy who worked as a minister on the oil pipeline in Alaska, he had a lot of access to information, interesting what he had to say on the subject. Below that is a link to a pretty long written article (a book actually) that he wrote about the whole energy industry, if you would rather read than watch youtube. lol

Lindsay Graham about energy non-crisis

Lindsay Graham energy non-crisis book
 


edit to add second link

[edit on 17-2-2009 by sezsue]

edit to add: I see someone else gave the same links above, snuck in there while I was writing my post lol. Glad to see there are a lot of educated people here.....way to go!

[edit on 17-2-2009 by sezsue]



posted on Feb, 17 2009 @ 07:02 PM
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Originally posted by photobug
let's think about this strategically..... Why should we use up all of our oil when we can simply buy it from the rest of the world that is willing to sell it to us. When they run out we will still have plenty. Ever heard the term short term suffering for long term gains. Perhaps that is whats going on here.


Even if we suffer today for those benefits tomorrow, those benefits will run out and your grand kids and great grandkids will be the ones to suffer as we do today.

The choice is clear, renewable energy that will keep this planet prosperous and green for your grand kids and great grandkids.


Originally posted by photobug
Just another perspective. we constantly think with our pocket books but maybe we need to look at the bigger picture. BTW I agree with alternative energy sources and I would like to keep gas cheap but my grand children and great grandchildren have the same rights to our natural resources as I do.



Yes lets look at the bigger picture, especially that bigger picture down the road 20, 40 years from now.

In less than 10 years, the problem of fossil fuels has risen 10 fold as had the political and social scenes due to oil. All this fighting and war over a resource that runs dry, only to revert back to that same method for future generations? Do you honestly think that your grand kids and great grand kids will want to be dealing with exactly what we are dealing with today?

Rememeber the oil crunch of the 70's? Back then, it was predicted that by the late 90's there would be huge prices and economic hardships if the energy policy remained the way it was, and did not change over to renewable sources and alternative sources.

Here we are, going through what they predicted back in the 70's. That is only 30 years. Do you think things will be any better in 30 years just because we bought up all that forign oil and now are faced with not just the problem of refining and exponetial growth and demand, but world wide demand that will obviously be after us for that oil, that once again, wont last forever?

Oil causes more problems than it solves. It is an antiquated commodity, its time is long overdue for retirement, and the technology exists today to change this problem and solve it for good.

Its a matter of prospective, and long term survivabilty. Let those forign nations use up all their oil while we move to renewable and can tell them to "go sand yourself". We will be even stronger when their energy runs out and we already are on a renewable and wont have to burn up any of our oil, we can sell it to them and make pure profit while we use renewable energy.

I think thats a better solution than to keep doing the same thing all over again and risk our next few generations going through the same thing we are today.


Cheers!!!!



posted on Feb, 17 2009 @ 07:04 PM
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reply to post by Bazarocka

edit, double post

sorry about that

[edit on 17-2-2009 by sezsue]



posted on Feb, 17 2009 @ 07:29 PM
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I agreee 100% I am not implying by any means that we continue our reliance on oil for energy. I'm just simply stating a differant perspective. It's also nice to have that oil as a reserve. How else are we going to keep those antique Hot rods running. Oil is good for a lot of other things besides energy. We need to keep as much of ours as possible for as long as possible while "YES" using our resources for alternative energy .



posted on Jul, 16 2009 @ 04:27 PM
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Originally posted by RFBurns
While that is terrific news, it wont help matters any due to the fact that there are simply not enough refineries to meet added supply, nor the exponentially increasing demand.

The solution is not more oil, the solution is a new energy resource. One that is more modern than 1800's technology.



Cheers!!!!


But the problem is, that non-fossil energy -- the only thing we'll have left one oil, gas and coal are gone -- is not cheap and easy. That is what we need with our messed up system: CHEAP and EASY energy.

Here's also a cold and hard scientific examination of the Bakken oil fields:
www.theoildrum.com...

I have no idea where this "2 TRILLION" figure is coming from. And even if it's right, that could be "dirty oil" that isn't CHEAP and EASY.

Thus it seems the days of CHEAP and EASY energy, especially liquid fuels that can be used to drive transportation devices (which is what makes up the majority of oil consumption: cars, trucks, planes, ships, etc.), and the messed up society we've built upon it, are coming to a close.



posted on Aug, 2 2009 @ 07:04 AM
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The solution is not more oil, the solution is a new energy resource. One that is more modern than 1800's technology.


Not just 1800s, the technology of digging something out of the ground and burning it is practically stone age. It's antique.

Regardless of Peak Oil and Global Warming, we shouldn't be relying on a substance that we dig out of the ground, set on fire and pollute the air with just to propel vehicles and keep ourselves warm. It is a travesty of human accomplishment that we're still doing that.



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